23777 Mulholland Hwy Spc 35 · Calabasas, CA 91302

$299,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily · 34 Days on market

Built 1974

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME HOME! LOCATED IN THE EXCLUSIVE NEIGHBORHOOD OF CALABASAS VILLAGE. THIS AMAZING MANUFACTURED HOME HAS A SPACIOUS DECK WITH ENCHANTING BREATHTAKING VIEWS OF NATURE TO ENJOY YOUR MORNING SUNRISE AND SUNSETS. This property features three bedrooms, ONE OFFICE, two bathrooms with granite counter tops. A beautiful Kitchen with high-end stainless steel stove, dishwasher, and granite counter tops. Recessed lights throughout, tile floors and wood shutters. Plenty of natural light, A spacious living room, dining room, laundry room, stucco and a custom shed. NO PROPERTY TAXES! CALABASAS ACADEMY AWARD WINNING SCHOOL LAS VIRGENES DISTRICT. Plenty of nearby HIKING AND BIKING TRAILS. Calabasas Village amenities include a pool, spa, gym, sauna, tennis court, basketball court, doggie park, clubhouse, gourmet kitchen, business room, library, kids play area, BBQ area. LOCATED JUST MINUTES FROM MALIBU AND PCH/HWY. THE PRESTIGIOUS CALABASAS COMMONS WITH SHOPPING STORES, RESTAURANTS, AND MOVIE THEATER. CLOSE BY WESTFIELD TOPANGA PLAZA. COME AND ENJOY THE RESORT LIFESTYLE!

Key facts

• Private office
• Gleaming tile floors
• 4 parking spots

Tags

• RICH GRANITE COUNTERTOPS
• GLEAMING TILE FLOORS
• WOOD PLANTATION SHUTTERS
• MODERN RECESSED LIGHTING
• PRIVATE OFFICE
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Rent includes: see remarks; Refrigerator excluded
• HOA & community: Community amenities: spa, pool, tennis courts, clubhouse, meeting rooms, banquet facilities, picnic area, outdoor cooking area, multipurpose/recreational rooms, card room, gym/exercise room, playground, dog park, street lighting, park; Park name: Calabasa; Land lease (park-provided amount listed separately)

Exterior

• Parking: Carport with 4 parking spaces; Accessible parking
• Security: Community security; Association provides security
• Utilities: Public sewer; District/public water
• Home design: Single-story; Entry level: 1; West-facing entry; Mobile home (24' x 60') — mobile home remains; Model AAR3987
• Construction: Stucco exterior elements
• Exterior features: Shingle roof; Front porch; Concrete patio; Deck; Community pool; Stucco skirt; Storage building; Vinyl and wood fencing; Close to clubhouse; One shed; Has view

Interior

• Kitchen: Kitchen island; Granite counters; 6-burner stove; Dishwasher
• Bedrooms: Office (listed as a room); Living room (listed as a room)
• Bathrooms: 2 full bathrooms; Master bath with double sinks and shower; Granite counters in bath
• Heating & cooling: Central furnace heating; Central cooling
• Interior features: Ceiling fan; Living room deck attached; Recessed lighting; Open floor plan; Storage space; Granite counters; Shutters; Double-pane windows; Community spa
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 2.2% in Calabasas — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 57/100 on livability (#756 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Las Virgenes Unified (suburban): math 55% / reading 70% proficiency, ranked #58 of 517 in CA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Chaparral Elementary (math 75% / reading 75%, grade A, #91 of 1,571 statewide, top 6%, 537 students, 18% FRL); Alice C. Stelle Middle (math 40% / reading 68%, grade B-, #79 of 498 statewide, top 16%, 760 students, 17% FRL); Calabasas High (math 34% / reading 70%, grade D+, #296 of 1,170 statewide, top 27%, 1,817 students, 23% FRL).
• Market conditions: Rents soft (-2.9%/yr); 218 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• This rent runs 33% of the median local income ($186k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.72% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.66%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $1,170,720
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3547 Pansy Dr	0.14mi	3/2.5	1,476 (+2%)	12mo	$1,035,000	$701	77
24715 Via Del Llano	0.54mi	3/3.0	1,575 (+9%)	2mo	$1,600,000	$1,016	53
3564 Poppy Dr	0.32mi	3/3.0	1,648 (+14%)	6mo	$1,010,000	$613	52
24691 Calle Largo	0.52mi	3/3.0	1,575 (+9%)	18mo	$1,281,000	$813	42
3703 Calle Jazmin	0.74mi	3/2.5	1,581 (+10%)	9mo	$1,400,000	$886	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.76×
• Total profit: $63,889
• Equity at exit: $44,582

10-year hold

• IRR: 25.7%
• Equity multiple: 2.93×
• Total profit: $161,638
• Equity at exit: $25,852

Cash invested: $83,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 91302

• Rents YoY: -2.9%
• Active inventory: 218
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $5,147 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,081
• Net cashflow: $1,999

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,206	-5% $2,103	+0% $1,999	+5% $1,896	+10% $1,793
Rent	-10% $1,593	-5% $1,796	+0% $1,999	+5% $2,203	+10% $2,406
Rate	-1.0pp $2,150	-0.5pp $2,075	base $1,999	+0.5pp $1,922	+1.0pp $1,843

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24621 Senda Salvia Calabasas, CA	3.0	3.0	1591	$6,200	$3.90	24d	1	0.44mi
24765 Via del Llano Calabasas, CA	3.0	2.5	1591	$5,480	$3.44	45d	1	0.59mi
3717 Calle Joaquin Calabasas, CA	3.0	2.5	1575	$6,500	$4.13	45d	1	0.76mi
24655 Park Miramar Calabasas, CA	2.0	2.0	1200	$5,995	$5.00	19d	1	0.83mi
4606 Park Granada #11 Calabasas, CA	2.0	2.0	1054	$2,795	$2.65	45d	1	1.18mi
23647 Park Capri #87 Calabasas, CA	3.0	2.0	1290	$3,900	$3.02	45d	1	1.21mi
4642 Park Granada #161 Calabasas, CA	2.0	2.0	1006	$4,000	$3.98	26d	1	1.28mi
4648 Park Granada #170 Calabasas, CA	3.0	2.0	1290	$4,200	$3.26	26d	1	1.28mi
23637 Park Capri #34 Calabasas, CA	2.0	2.0	1054	$3,800	$3.61	26d	1	1.28mi
23635 Park Capri #31 Calabasas, CA	2.0	2.0	1054	$2,975	$2.82	26d	1	1.28mi
4732 Park Granada #221 Calabasas, CA	2.0	2.0	1054	$2,800	$2.66	46d	1	1.28mi
4140 Meadow Lark Dr Calabasas, CA	3.0	2.5	1750	$5,400	$3.09	21d	1	1.33mi
4140 Meadow Lark Dr Calabasas, CA	3.0	3.0	1745	$5,750	$3.30	45d	1	1.33mi
4720 Park Granada Calabasas, CA	2.0	2.0	1006	$2,975	$2.96	45d	1	1.36mi

Listing history 44 events

1. 2026-06-21
   days on market $299,000 Active 34 DOM
2. 2026-06-18
   days on market $299,000 Active 31 DOM
3. 2026-06-17
   days on market $299,000 Active 30 DOM
4. 2026-06-16
   days on market $299,000 Active 29 DOM
5. 2026-06-16
   price $299,000 Active 28 DOM
6. 2026-06-15
   days on market $329,000 Active 28 DOM
7. 2026-06-13
   days on market $329,000 Active 26 DOM
8. 2026-06-13
   days on market $329,000 Active 25 DOM
9. 2026-06-09
   days on market $329,000 Active 22 DOM
10. 2026-06-08
    days on market $329,000 Active 21 DOM
11. 2026-06-07
    days on market $329,000 Active 20 DOM
12. 2026-06-04
    days on market $329,000 Active 17 DOM
13. 2026-06-03
    days on market $329,000 Active 16 DOM
14. 2026-06-02
    days on market $329,000 Active 15 DOM
15. 2026-06-01
    days on market $329,000 Active 14 DOM
16. 2026-05-31
    days on market $329,000 Active 13 DOM
17. 2026-05-18
    listed $329,000 Active
18. 2026-04-02
    historical 1073-char remark

    Show marketing remark (1073 chars)

    WELCOME HOME! LOCATED IN THE EXCLUSIVE NEIGHBORHOOD OF CALABASAS VILLAGE. THIS AMAZING MANUFACTURED HOME HAS A SPACIOUS DECK WITH ENCHANTING BREATHTAKING VIEWS OF NATURE TO ENJOY YOUR MORNING SUNRISE AND SUNSETS. This property features three bedrooms, ONE OFFICE, two bathrooms with granite counter tops. A beautiful Kitchen with high-end stainless steel stove, dishwasher, and granite counter tops. Recessed lights throughout, tile floors and wood shutters. Plenty of natural light, A spacious living room, dining room, laundry room, stucco and a custom shed. NO PROPERTY TAXES! CALABASAS ACADEMY AWARD WINNING SCHOOL LAS VIRGENES DISTRICT. Plenty of nearby HIKING AND BIKING TRAILS. Calabasas Village amenities include a pool, spa, gym, sauna, tennis court, basketball court, doggie park, clubhouse, gourmet kitchen, business room, library, kids play area, BBQ area. LOCATED JUST MINUTES FROM MALIBU AND PCH/HWY. THE PRESTIGIOUS CALABASAS COMMONS WITH SHOPPING STORES, RESTAURANTS, AND MOVIE THEATER. CLOSE BY WESTFIELD TOPANGA PLAZA. COME AND ENJOY THE RESORT LIFESTYLE!

19. 2026-02-28
    listed $349,000 Active 1073-char remark

    Show marketing remark (1073 chars)

    WELCOME HOME! LOCATED IN THE EXCLUSIVE NEIGHBORHOOD OF CALABASAS VILLAGE. THIS AMAZING MANUFACTURED HOME HAS A SPACIOUS DECK WITH ENCHANTING BREATHTAKING VIEWS OF NATURE TO ENJOY YOUR MORNING SUNRISE AND SUNSETS. This property features three bedrooms, ONE OFFICE, two bathrooms with granite counter tops. A beautiful Kitchen with high-end stainless steel stove, dishwasher, and granite counter tops. Recessed lights throughout, tile floors and wood shutters. Plenty of natural light, A spacious living room, dining room, laundry room, stucco and a custom shed. NO PROPERTY TAXES! CALABASAS ACADEMY AWARD WINNING SCHOOL LAS VIRGENES DISTRICT. Plenty of nearby HIKING AND BIKING TRAILS. Calabasas Village amenities include a pool, spa, gym, sauna, tennis court, basketball court, doggie park, clubhouse, gourmet kitchen, business room, library, kids play area, BBQ area. LOCATED JUST MINUTES FROM MALIBU AND PCH/HWY. THE PRESTIGIOUS CALABASAS COMMONS WITH SHOPPING STORES, RESTAURANTS, AND MOVIE THEATER. CLOSE BY WESTFIELD TOPANGA PLAZA. COME AND ENJOY THE RESORT LIFESTYLE!

20. 2026-02-26
    historical
21. 2025-08-06
    price $349,000
22. 2025-07-19
    price $429,000
23. 2025-04-24
    price $399,000
24. 2025-04-03
    listed $429,000 Active
25. 2018-08-31
    soldstatus $250,000 Closed Sale
26. 2018-08-06
    status Pending Sale
27. 2018-07-03
    price $299,000
28. 2018-07-02
    price $260,000
29. 2018-06-28
    listed $250,000 Active
30. 2018-06-26
    historical
31. 2018-05-17
    listed $299,000 Active
32. 2015-04-23
    soldstatus $68,500 Closed
33. 2015-03-25
    status Pending
34. 2015-02-24
    status Backup Offers Accepted
35. 2014-10-28
    status Active
36. 2014-10-17
    status Backup Offers Accepted
37. 2014-01-10
    listed $89,000 Active
38. 2007-11-20
    historical
39. 2007-08-23
    listed
40. 2007-06-18
    historical
41. 2007-05-21
    price
42. 2007-02-17
    historical
43. 2007-02-14
    listed
44. 2006-06-22
    listed $285,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,758
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,941
• − Management: −$4,941
• − Depreciation: −$8,698
• Taxable income: $20,450
• Est. tax owed @ 24.0%: −$4,908
• After-tax cash flow: $19,085/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Las Virgenes Unified
• NCES district ID: 0621000
• Math proficiency: 55% ▼ -4.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $118,374
• Composite: 59.63/100
• National rank: #907
• State rank: #58 of 517 in CA

Livability — Calabasas

• Score: 57/100
• State rank: #756
• US rank: #22060

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing C+ Health & safety C User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calabasas, CA
• County: Los Angeles County · 9,444,647 people
• City population: 25,569
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 25,569
• Household income: $185,636
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1222.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 11% Two or more races 8% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Scotch-Irish 7% Romanian 3% Italian 3%
• Foreign-born: 25% · China, Canada, South Korea
• Languages at home: 72% English-only · Other Indo-European 10% Russian/Polish/Slavic 4% Spanish 4%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -483.62%
• Current HPI: 332.6271
• Rent YoY: ▼ -2.89%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+4.7% since first listed

29 events — show timeline

• 2026-06-16 Price Changed $299,000 CRMLS
• 2026-05-18 Listed $329,000 CRMLS
• 2026-04-02 Listing Removed — CSMAR
• 2026-02-28 Listed $349,000 CSMAR
• 2026-02-26 Listing Removed — CRMLS
• 2025-08-06 Price Changed $349,000 CRMLS
• 2025-07-19 Price Changed $429,000 CRMLS
• 2025-04-24 Price Changed $399,000 CRMLS
• 2025-04-03 Listed $429,000 CRMLS
• 2018-08-31 Sold (MLS) $250,000 CRMLS
• 2018-08-06 Pending — CRMLS
• 2018-07-03 Price Changed $299,000 CRMLS
• 2018-07-02 Price Changed $260,000 CRMLS
• 2018-06-28 Listed $250,000 CRMLS
• 2018-06-26 Listing Removed — CRMLS
• 2018-05-17 Listed $299,000 CRMLS
• 2015-04-23 Sold (MLS) $68,500 TheMLS
• 2015-03-25 Pending — TheMLS
• 2015-02-24 Pending — TheMLS
• 2014-10-28 Relisted — TheMLS
• 2014-10-17 Pending — TheMLS
• 2014-01-10 Listed $89,000 TheMLS
• 2007-11-20 Delisted — TheMLS
• 2007-08-23 Listed — TheMLS
• 2007-06-18 Delisted — TheMLS
• 2007-05-21 Price Changed — TheMLS
• 2007-02-17 Listing Removed — CRMLS
• 2007-02-14 Listed — TheMLS
• 2006-06-22 Listed $285,500 CRMLS